An Interesting Comment on Gold Prices from Strategist Devrim Akyıl
Gold prices, which ended last week with a slight decline, began to rise again as the new week began. In Turkey, the price of a gram of gold rose to 5,859 lira. The price of an ounce of gold started trading at 4,347 dollars. Strategist Devrim Akyıl, a guest on the 'Açık Açık' program hosted by Güzem Yılmaz Ertem and aired on the 'finansZone' YouTube channel, stated that minor declines in gold prices could always occur, but he believes the rise will continue until 2028. Akyıl drew attention with his statement, 'The price of gold is saying 'things are going to get messy, get ready.''
The rapid surge in gold prices this month has caught everyone's attention. As the price per ounce of gold approaches $4,500, the price of a gram of gold in Turkey is nearing 6,000 lira for the first time in history.
Strategist Devrim Akyıl shared his predictions about gold prices in an interview with Güzem Yılmaz Ertem on the 'Açık Açık' program broadcasted on the 'finansZone' YouTube channel.
'We are in the midst of a super commodity cycle,' said Akyıl, 'Cycles for gold occur once every 9 years. I've been anticipating these cycles for a long time, so I see these increases as perfectly normal. Although gold prices may seem expensive in the short term, they are still cheap when we look at the long-term picture. I believe this cycle will continue until 2028. Currently, we are technically in the third wave. There can always be corrections with declines in gold, but I don't find the comment that the price of gold per ounce won't rise to 5,000 dollars realistic,' he stated.
"Right now, the gold market is signaling 'Brace yourselves, things are about to get messy.'"
Strategist Devrim Akyıl states, 'In layman's terms, the market is saying 'Things are about to get messy, get ready'. Gold is pricing in the money that will be printed in the future. When the S&P 500 Index, which includes the largest companies in the US, is around 6,000 to 6,500 dollars, it doesn't make sense to me that gold is around 4,300 dollars. I don't expect a sharp drop in gold. Gold usually adjusts by about 10 percent. Intervention in gold can be made by raising interest rates, but the US doesn't have such a stance. On the contrary, they are trying to lower interest rates. The macro scenario is not suitable for this cycle to end here. I still think gold prices are low,' he explains.
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